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Revenue Recognition for NFPs

REVENUE RECOGNITION FOR NON-PROFITS

Cost Free
Presentation Length 1.0 hour

Recorded DateSeptember 30, 2020
CPE:Not available
(archived webinars do not offer CPE credits)
Subject AreaAccounting
Course LevelBasic
Series: Non-Profits
Course Description

When the FASB issued its sweeping overhaul of revenue recognition in 2014 (ASU 2014-09), they carved out not-for-profit contributions and grants, but they vowed one day to return and finish the job. Four years later, they did in the form of ASU 2018-08. Please join me for a session that takes a refreshed look at ASU 2014-09 and exchange versus contribution transactions. Then we’ll take a deep dive into ASU 2018-08, including several case studies, to ensure your ability to implement these standards in your own organization.

Learning Objectives:


  • Identify the components of the 5-step method to revenue recognition

  • Recognize how to distinguish between exchange and contribution transactions

  • Identify the fundamentals of ASU 2018-08 and its applicability to their organization

  • Recall a series of case studies implementing ASU 2018-08

PLEASE NOTE: ARCHIVED WEBINARS DO NOT QUALIFY FOR CPE
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Lgt logov

Lucas is a Texas Society of CPAs Rising Star Award-winning relationship manager, auditor, board member, author, and speaker with two decades of leadership in assurance, consulting, risk management/ mitigation, and taxation services. After nearly a decade as an auditor working with clients in a number of industries; including construction, M&D, and not-for-profit, he now is responsible for leading firm initiatives to expand existing client relationships and establish new ones, investigate innovative client services and solutions, and instill a culture of client service and sales. He often presents to local, state, and national audiences about accounting industry developments. 

About Our Presenter

Lgt logov
For more than 65 years, Lane Gorman Trubitt has served the Dallas/Fort Worth Metroplex from their single location in Uptown Dallas. The firm is comprised of more than 100 employees who have a variety of professional skills and industry specializations; yet, they all share the same passion to support and grow local businesses with tax, audit, and consulting services.